China pledges $60bn for Africa

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By Staff Reporter

Chinese President Xi Jinping has pledged $60 billion in financing for Africa and African development projects until the next round of financing.

Speaking at the ongoing Forum on China-Africa Cooperation in Beijing yesterday, President Xi, said that the money is expected to fully foster the China-Africa comprehensive strategic and cooperative partnership, in eight areas, namely  launching an industrial promotion initiative, through the China Africa Economic Expo in Africa, to build and upgrade economic trade zones and agricultural modernisation.

The pledge follows the completion of another three year commitment launched in 2015, bringing China's total investment in Africa to $120 billion. 

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